Description
Gain an understanding of the potentially confusing statute and avoid the risk of compliance problems.The Homeowners Protection Act (HPA) is one of the lesserknown consumer financial protection laws administered by the Consumer Financial Protection Bureau. As result, there is much less guidance available in regulations, administrative decisions or case law as compared to other consumer financial protection laws. This makes the risk of compliance problems or litigation more acute. This material is critical for financial services providers and their compliance and legal staffs to get a more thorough understanding of this relatively obscure and potentially confusing statute.
Date: 2021-08-25 Start Time: End Time:
Learning Objectives
Overview of Private Mortgage Insurance (PMI) and the Homeowners Protection Act (HPA)
• What Is PMI?
• Borrower Paid (BPMI) Versus Lender Paid (LPMI) Mortgage Insurance
• Single Premium Versus Monthly Premium
BPMI Under the HPA
• Borrower Requested Cancellation of BPMI
• Automatic Termination of BPMI
• Right to a Refund of Unearned Premium
• Required Disclosures for BPMI
LPMI Under the HPA
• No Right to Cancel LPMI
• Borrower Is Entitled to Certain Disclosures Related to LPMI
Authority of the CFPB and Other Regulators Related to the HPA
• The Structure of Dodd-Frank
• CFPB’s Enforcement Authority
• CFPB’s Examination Authority
• HPA as a Potential Basis for UDAAP Liability
Enforcement of the HPA in Private Lawsuits
• Issues That Have Arisen in Private Litigation
• Preemption of State Laws Under the HPA
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Stephen A. Fogdall-Schnader Harrison Segal & Lewis LLP
